TTM Tech shares surge on first-quarter results, outlook

GabrielMadway

SAN FRANCISCO (MarketWatch) -- TTM Technologies Inc.
TTMI, +1.94%
shares surged 19% to $10.92 in Wednesday morning trade after the Santa Ana, Calif.-based printed circuit board maker reported a first-quarter net profit of $8.5 million, or 20 cents a share, down from $8.8 million, or 21 cents a share, for the same period of 2006. Revenue more than doubled in the quarter, rising to $176.9 million from $72.7 million last year. Analysts polled by Thomson Financial were expecting, on average, a per-share profit of 15 cents on revenue of $168.4 million. For the second quarter of 2007, TTM forecast revenue of $158 million to $167 million and earnings of 13 cents to 19 cents a share.

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